Fairfield Bush & CO. Trims Stake in Neogen Co. (NASDAQ:NEOG)

Fairfield Bush & CO. decreased its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 33.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,277 shares of the company’s stock after selling 14,122 shares during the period. Fairfield Bush & CO.’s holdings in Neogen were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Harbour Investments Inc. purchased a new position in shares of Neogen during the 4th quarter valued at about $27,000. Blue Trust Inc. lifted its holdings in Neogen by 196.7% during the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after purchasing an additional 2,233 shares in the last quarter. Covestor Ltd boosted its position in shares of Neogen by 41.4% in the fourth quarter. Covestor Ltd now owns 4,103 shares of the company’s stock worth $50,000 after purchasing an additional 1,202 shares during the period. KBC Group NV increased its stake in shares of Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock worth $103,000 after purchasing an additional 2,379 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Neogen by 4,955.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 10,415 shares of the company’s stock valued at $126,000 after purchasing an additional 10,209 shares during the period. 96.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on NEOG. Piper Sandler dropped their price objective on Neogen from $13.00 to $6.50 and set a “neutral” rating for the company in a research note on Monday. Guggenheim dropped their target price on shares of Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, April 10th.

Insider Transactions at Neogen

In related news, CAO John Patrick Moylan acquired 10,000 shares of the stock in a transaction dated Thursday, April 10th. The stock was acquired at an average cost of $5.07 per share, with a total value of $50,700.00. Following the purchase, the chief accounting officer now directly owns 10,000 shares of the company’s stock, valued at approximately $50,700. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.13% of the company’s stock.

Neogen Price Performance

NASDAQ:NEOG opened at $4.60 on Thursday. The company has a market capitalization of $997.94 million, a P/E ratio of -2.10 and a beta of 1.57. The business’s 50-day moving average is $8.74 and its 200 day moving average is $11.76. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. Neogen Co. has a 12 month low of $3.87 and a 12 month high of $18.58.

Neogen (NASDAQ:NEOG) last posted its earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The firm had revenue of $221.00 million for the quarter, compared to the consensus estimate of $225.27 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. On average, equities research analysts forecast that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Neogen Profile

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.